Category : Featured

FeaturedRetail

Walmart still has little dreams for New York

REW
by REW889
By Holly Dutton The world’s biggest retailer hasn’t given up on New York City as a store destination. Speaking at a Counselors of Real Estate (CRE) mid-year meeting in the city on Monday, George Kinnard, vice president of Realty at Walmart, listed a series of successful company concepts, including mini college campus Walmart's and so-called “express” stores in suburban shopping centers that could be adapted to suit the city . “They want to be here,” said Faith Hope Consolo, chair of the Retail Group at Douglas Elliman, who also took part in the CRE event. “They know they can offer good products at the right price points.” The company has been optimistic that a smaller version of its mega-stores could fare better in a city like New York where there has been huge opposition to a traditional Walmart.
Bernstein building to crescendo at Cassidy Turley
Deals & DealmakersFeatured

Bernstein building to crescendo at Cassidy Turley

REW
by REW1233
By Orlando Lee Rodriguez Each morning Richard Bernstein engages in a ritual so key that he leaves his home two hours before he needs to, many times before the sun has crept above the horizon. The reason? Just so he can understand more of what Beethoven was really trying to say. “I built a studio in the Graybar building,” said Bernstein, an executive vice chairman at Cassidy Turley and classically-trained pianist. “Every morning I get there at ten [minutes] to six and I play until eight and then I go to work.” Ironically, on paper, market performance charts mimic the movement of musical notes, and like a Tchaikovsky composition, market movements also shift direction, rarely repeating as they move forward. So it is understandable that Bernstein would be able to recognize market changes, particularly as the brokerage business has become more complex and multifaceted.
Report: Super-rich spend $10B on new homes
FeaturedResidential

Report: Super-rich spend $10B on new homes

REW Staff
by REW Staff1069
The value of residential property purchases over $15.5 million in the world’s top financial hubs of London, New York, Hong Kong and Singapore is set to grow by 27% in the next five years, according to a report released today by Candy & Candy. The report sheds new light on the predicted growth of ultra-high-net-worth (UHNWI) fortunes and how this is continuing to fuel demand for ultra-prime residential properties in the world's major cities. The ultra-prime housing markets in London, New York, Hong Kong and Singapore collectively witnessed more than 300 residential real estate transactions in 2012 where the price was over $15.5 million. Together, the value of those transactions exceeded $10 billion. That number is expected to hit $13 billion by 2017.
Construction & DesignFeatured

China giant makes jumbo Jersey buy

REW Staff
by REW Staff
Andrew Merin China Construction America, Inc., a subsidiary of one of the largest construction firms in the world, has purchased a new US headquarters space. … Continued
Deals & DealmakersFeatured

Harlem son champions hood’s rough diamonds

REW
by REW1399
By Orlando Lee Rodriguez Anyone who knows New York City and its romance with baseball will tell you that, in the 1940s and 50s, the fight for the National League pennant was basically a battle between the team from Harlem’s Polo Grounds and the one from Brooklyn’s Ebbets Field. In fact, from 1947 — the year Dodger Jackie Robinson broke the color line — and 1957, the year both teams moved to California, Harlem’s New York Giants and Flatbush’s Brooklyn Dodgers won the National League pennant eight times between them. Between 1951 — Giants’ Bobby Thompson’s “Shot Heard ‘Round the World” moment — and 1956, either the Dodgers or the Giants were the National League Champion every single year. But it was mostly Brooklyn that got the best of their uptown rivals, six pennants to two. Today, the same can be said for New York City real estate. Brooklyn is the talk of the brokerage town, while Harlem, the recipient of some fanfare, has not to this point dimmed Brooklyn’s spotlight.
Deals & DealmakersFeatured

Newmark Grubb Knight Frank takes REBNY “Deal of the Year”

REW
by REW1487
By Orlando Lee Rodriguez Newmark Grubb Knight Frank CEO Barry M. Gosin; Vice Chairman Brian S. Waterman and Executive Managing Director of Financial Services Romel C. Cañete took the grand prize in the Real Estate Board of New York's "Deal of the Year Award" at the Commercial Sales Brokers Committees’ 69th annual cocktail reception in Midtown last night. The team from NGKF were chosen as winners of the 'Henry Hart Rice Award' for the 1.2 million square foot lease signing in April of 2012 at One New York Plaza for Morgan Stanley.
Immigration reform could bring big boost to housing market
FeaturedResidential

Immigration reform could bring big boost to housing market

Holly Dutton
by Holly Dutton160
By Holly Dutton A handful of bi-partisan Senators, including New York Senator Chuck Schumer, formally filed an immigration bill last week that would overhaul immigration practices in the U.S., giving a path to residency to the more than 11 million undocumented immigrants already in the country.
Classic Carlton reborn as luxury jewel
FeaturedResidential

Classic Carlton reborn as luxury jewel

REW
by REW813
By Orlando Lee Rodriguez Tribeca and SoHo may have the priciest sales points and the highest rents in the city right now, but when you live uptown you have one thing downtown could never have: Central Park. About 30 hops and half a skip from the city’s premier oasis is The Carlton, a collaborative renovation project between Gary Barnett’s Extell Development Company, the builders of ONE57, and investment advisor Angelo Gordon & Co., the former owners of Chelsea Market.
FeaturedHeadline

Vornado sells for $65M song

Orlando Rodriguez
by Orlando Rodriguez
Rendering of proposed Harlem Park office tower. Vornado has sold the site for $65 million. By Orlando Lee Rodriguez Not only has the “fat lady” … Continued